Because the stock price would drop and Tesla wants to do another round of funding (aka issue more stock) soon.

The stock price has dropped by $64 since the start of the week BTW. It was at $325 when I checked earlier today and came from a high of $389.

That's not correct. $389 is its all-time high. It closed at ~$345 on Friday and opened ~$350 on Monday.

it's literally $325 right now so what's not correct?

skgoa said "The stock price has dropped by $64 since the start of the week BTW."

It has dropped ~$25 since the start of the week. It's down $64 from its all-time high.

That’s a great way to get sued. The point of performance reviews is to standardize rankings so that you can use them later to fire/promote without being sued for discrimination.

Isn't there a set procedure for companies to report performance (of the company's finances, not individual employeess)-based layoffs like this to the Feds?

What are they going to do, say "no, you owe these people jobs, go take out a loan?" Well, maybe if the company can't demonstrate that they actually need to drop so many people, but this sort of seems like they're being lazy and cheap, at best.

Y'know, it's starting to really seem like the market simply is not willing to accept how expensive things are.

Public companies of that size have requirements to follow including notice periods. I think it is % based.

I don’t know why you got down voted. That’s what Tesla should have done if they haven’t documented any performance problems.

What they did is basically slander with real economic consequences to those fired and they should sue.

Being fired with cause impacts their ability to collect unemployment, which most these people deserve.

It also puts a bad mark on their employment history, unless they lie about how they where fired.

> Being fired with cause impacts their ability to collect unemployment, which most these people deserve.

afaik, performance doesn't impact your benefits in the US, unless it's tied to 'willful misconduct'. if you're (for example) simply incompetent, but honest and good-intentioned, it's entirely the employer's fault for improperly filling the position per their own requirements.

In the U.S is it legal for companies to disclose how former employees were let go (laid off vs. fired). I imagine they just give dates. Otherwise how would fired employees ever gain future employment in competitive fields.

Is it legal? Yes.

Do companies do it? Usually not.

The “with cause” implies they have sufficient reason to deny unemployment iirc. Or that they merely think they do.

'Company didn't do well' translates to some higher manager up the chain performing badly. Its always easier to shift the blame on somebody else, and have them take the fall for the big shots.